Investors reassured about Spain-080808

Overseas property investors have been advised not to be put off by the current downturn in the Spanish market.

According to Property Wire, Spain is feeling the effects of the credit crunch along with many other parts of the world.

Since the impact on the housing market has forced many property firms and developers out of business, consumer confidence has been hit.

However, Property Wire believes that it is many of the more unscrupulous groups who are being negatively affected.

"That can only be good for the property market and those investing in it," it commented.

The website added that while interest among British buyers has waned in recent months, Spain is still very popular with people from other countries.

For example, it was said to be attracting lots of interest from Russian, German, Swedish and Dutch investors.

According to the Association of International Property Professionals, the country accounted for more than a quarter of overseas purchases last year.

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